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China Now Fifth in World Gold Holdings

GoldCore's picture




 

In his article for Bloomberg Business Ranjeetha Pakiam takes a look at China’s recent accumulations in gold and how the country now compares in the world league table on gold holdings. He observes that there is a deliberate policy of increased transparency in China “as the country improves data quality, increases its presence in commodities trading and promotes the international role of the yuan”.

  • China has overtaken Russia to become the country with the fifth-largest gold hoard
  • China’s accumulation of physical gold is being tipped to continue by market experts
  • Monthly reporting increases Chinese transparency after years of mystery

DAILY PRICES

Today’s Gold Prices: USD 1122.50, EUR 1000.08 and GBP 739.12 per ounce.
Yesterday’s Gold Prices: USD 1124.60, EUR 1001.16 and GBP 741.36 per ounce.
(LBMA AM)


Gold in GBP - 1 month

Gold closed at $1127.50 yesterday with a $4.40 loss on the day. Silver was up $0.05 at close to $14.64, a gain of 0.34%. Euro gold fell to about €1002, platinum remained at $914.


IMPORTANT NEWS

Gold ends lower for third straight session – MarketWatch
Platinum Extends Slide to Lowest Since 2008 Amid Demand Concerns – Bloomberg
Platinum poised for worst quarter in seven years on Volkswagen scandal – Reuters
Asia shares rally, but on track for worst quarterly loss in four years – Reuters
Traders Flee Emerging Markets at Fastest Pace Since 2008 – Bloomberg

IMPORTANT ANALYSIS

Banks should be afraid, disruption of financial services has only just begun – The Telegraph
World  set for emerging market mass default warns IMF – The Telegraph
Britain’s buy-to-let boom is a growing risk to the economy, could spark a house price crash – MailOnline
Obama Deifies American Hegemony — Paul Craig Roberts
It’s Time to Get Your Gold Out of the U.S. – Goldseek.com

Read more News & Commentary on GoldCore.com

 

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Thu, 10/01/2015 - 01:52 | 6614620 Latitude25
Latitude25's picture

Jim Willie says that the attack on VW diesel pollution standards is because the catalytic converters for these use platinum.  Platinum is 20X more rare than gold and 80% comes from S. African mines which are under stress.  Platinum is in extremely short supply and the price is heavily manipulated along with gold and silver.  If VW gets delivery of more platinum it will destroy the whole PM suppression scheme.

Wed, 09/30/2015 - 19:36 | 6613623 TheAntiProgressive
TheAntiProgressive's picture

Well who really cares who has what.  It is a barbarous relic so why bother counting, accumulating and storing a metal commodity since it really doesn't have any value in physical form.  Only perception matters just like fiat.  It is really quite sad how "markets" work today.  The Progressive statist Keynes' followers have really screwed the pooch and there is only one way out of this mess.  It is all just timing now.  Dance baby, dance.

Thu, 10/01/2015 - 01:32 | 6614605 Canadian Dirtlump
Canadian Dirtlump's picture

It doesn't matter until it does. Outside of the paradigm foisted upon us the last 40 years, it should matter. We see a panoply of paper metal exchanges which should obviate physical holdings, yet for some reason, there still exists an official tally of who has what - physically, not paperwise, by country. So as we see, Western Gold hoards remain status quo, or fall, while we see eastern gold hoards explode ( ignoring leasing and limiting the growth to organic production ). We write articles about why we shouldn't care about physical gold holdings, while our 2 biggest geo political adversaries buy the metal as they sell US treasuries.

Dance baby dance I guess is our battle cry. But should we be looking at our own holdings. Where are they and are they segregated and audited? Given the recent foreign rush into gold, where is ours? In a pissing match can we say where our gold is and how much we have?

Wed, 09/30/2015 - 18:22 | 6613343 Grandad Grumps
Grandad Grumps's picture

Gold makes very shiney yellow boat anchors.

Wed, 09/30/2015 - 16:21 | 6612759 honestann
honestann's picture

NEWS FLASH

... except to ZH readers, of course ...

-----

Actual holdings of unencumbered physical gold:

00,012 tons : USSA
00,823 tons : Germany
00,748 tons : Italy
01,345 tons : France
08,888 tons : China
01,388 tons : Russia
00,876 tons : Switzerland
00,008 tons : Japan
00,555 tons : Netherlands
00,543 tons : India

-----

Why the sometimes huge difference between reality and the bar charts in the article?  Because the bar charts are simply what liars in government and central banks claim... while the numbers above are the quantity of real, physical gold those fictitious governments actually have.

Much of the physical gold has been outright stolen, held by other parties (who stole and/or sold it), leased out and delivered to others who cannot replace it (to push PM prices down), and re-re-re-re-re-re-hypothecated as collateral umpteen [hundred] times.

The above does not include quantities of physical gold held by private individuals or private entities (corporations, churches, etc).

All the above numbers are estimates, based upon the best available public, private and inside information, plus liberal application of wild guesses.

Wed, 09/30/2015 - 15:36 | 6612539 Latitude25
Latitude25's picture

You can tell that the PM markets are totally fucked up and manipulated when gold is down more % on the day than silver

Thu, 10/01/2015 - 06:25 | 6614844 kev the bev
kev the bev's picture

NFPR Friday, hellloooooo! Have a look at AUD gold in the last week, LOL!!

Wed, 09/30/2015 - 12:59 | 6611670 Sudden Debt
Sudden Debt's picture

But does China actually hold the gold physically?

Who actually has the physical gold?

I don't believe anybody anymore!

Wed, 09/30/2015 - 13:14 | 6611757 Latitude25
Latitude25's picture

I believe what the Swiss refiners are saying at least, but that is not what the Chinese .gov is buying.

Wed, 09/30/2015 - 13:16 | 6611733 Arnold
Arnold's picture

Poland not on the list?

That train has got to be worth more than speculative paper.

 

Speaking of speculative paper;

 

http://www.cnbc.com/2015/09/29/the-associated-press-another-blow-to-main...

Wed, 09/30/2015 - 12:51 | 6611628 Turin Turambar
Turin Turambar's picture

5th?  Yeah, right... and unemployment is 5.1%  SMH

Wed, 09/30/2015 - 12:49 | 6611622 Latitude25
Latitude25's picture

There's a whole hell of a lot more gold in China than that.

http://gata.org/node/15796

Just sayin.

Wed, 09/30/2015 - 11:54 | 6611380 agent default
agent default's picture

US is first in gold holdings?  If there ever is an audit, the US will lag behind even me.

Wed, 09/30/2015 - 12:58 | 6611667 bluskyes
bluskyes's picture

The US would fall behind most people shorting gold in a margin account.

Wed, 09/30/2015 - 14:09 | 6612083 Save_America1st
Save_America1st's picture

I'm pretty sure we're all going to find out in the not too distant future that China has been #1 in real phyzz gold holdings (and possibly silver too???) for many years and by 10's of thousands of tons.

Wed, 09/30/2015 - 19:11 | 6613528 messymerry
messymerry's picture

<<<  The U.S. is telling the truth about their gold holdings

<<<  The U.S. is telling lies about their gold holdings

Lemmeno,

;-D  

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